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Tuesday, September 15, 2020

Elliott Wave Update ~ 15 September 2020

The only index of the 5 we have been watching to break price above its recent pivot high was the DJIA. But after that occurred it was the only one to go into the red before end of the day.
The Wilshire just missed making a higher high above its pivot.  There are still many short term options here. Until the pattern develops more or confirms what is already labeled as [ii], we just have to be ready.

I know the market doesn't "feel" like its going to collapse here. I'm not "feeling" it. But we are not supposed to feel it coming!

The Minute [ii] flat count has enough squiggles in place to consider it complete and has achieved  a decent price retrace of the total decline.
Transports made another pivot high. This may be a small swing non-confirmation with the Industrials. It could mean nothing, but it could be a small signal for a bearish turning point.
DAX is an interesting pattern.  Bearish wedge that falls short in price?  If it has one more move up, then likely the U.S. markets are moving up to a higher Minute [ii] price also. So its worth watching.
CPCE. Back into the extreme territory. Nothing new for the past many months.

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